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Report Date : |
16.03.2012 |
IDENTIFICATION DETAILS
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Name : |
AERONAUTICAL DEVELOPMENT ESTABLISHMENT |
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Registered
Office : |
Government of India, Ministry of Defense, Defense Research and Development
Organisation (DRDO), New Tippasandra, Bangalore – 560075, Karnataka |
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Country : |
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Year of
Establishment : |
1959 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Division of Defense Research and Development Organisation (Ministry of Defense, Government of India) |
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Line of Business
: |
Subject is a laboratory division of DRDO, specializing in the development
of vital military systems to meet the requirements of the Defense forces.
Area of R and D work carried out in ADE includes Unmanned Aerial Vehicles,
Combat Aircraft Systems, Micro Air Vehicles, Flight Simulation, Integration
of Air Weapons and Exploitation of Aerial Images, Design, Development of a
variety of aeronautical systems is carried out in the laboratory ADE, over
the years has developed core technologies and expertise in the field of
activity undertaken to meet the strategic need of the defense forces. |
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No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established organisation controlled and managed by
Ministry of Defense, Government of India. It is a division of Defense
Research and Development Organisation. Due to the nature of its operations,
no detailed financial are available. Payments are reported to be regular and
as per commitments. Subject can be considered good for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
Government of India, Ministry of Defense, Defense Research and
Development Organisation (DRDO), New Tippasandra, Bangalore – 560075,
Karnataka, India |
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Tel. No.: |
91-80-25057841 to 40 |
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Fax No.: |
91-80-25057843 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. P. S. Krishnan |
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Designation : |
Director |
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Date of Birth/Age : |
Plus 55 Years |
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Qualification : |
Distinguished Scientist |
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Experience : |
About 38 Years |
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Profile : |
(Assisted by an eminent team of qualified scientist personnel) Mr. P. S. Krishnan director is Post Graduate in Mechanical Engineering
(IIT) specialized in the organisation in several high tech capacities and is
the recipient of many awards for distinguished works in the organisation |
BUSINESS DETAILS
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Line of Business : |
Subject is a laboratory division of DRDO, specializing in the
development of vital military systems to meet the requirements of the Defense
forces. Area of R and D work carried out in ADE includes Unmanned Aerial
Vehicles, Combat Aircraft Systems, Micro Air Vehicles, Flight Simulation,
Integration of Air Weapons and Exploitation of Aerial Images, Design,
Development of a variety of aeronautical systems is carried out in the
laboratory ADE, over the years has developed core technologies and expertise
in the field of activity undertaken to meet the strategic need of the defense
forces. |
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Terms : |
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Selling : |
As per DRDO Norms |
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Purchasing : |
As per Purchase Order |
GENERAL INFORMATION
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Suppliers : |
GE Bharat Electronics Limited |
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Customers : |
Divisions of DRDO, HAL, BEL ISRO etc. |
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No. of Employees : |
3000 (Approximately) |
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Bankers : |
State Bank of India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Comptroller and Auditor General of India Chartered Accountants |
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Address : |
New delhi, India |
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Memberships : |
ISO : 9001 : 2008 Certified |
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Collaborators : |
ADE Inter acts with other DRDO division such as ADRDE, LRDE CABS, CEMILAC,
DARE, GTRE etc in the field of Aeronautics |
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Sister Concern : |
Division of DRDO ·
GTRE ·
DARE ·
CEMILAC ·
CABS ·
ADRDE ·
CFEES ·
LRDE ·
HEMRL ·
PXE ·
TBRL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
NIL
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.22 |
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|
1 |
Rs.78.64 |
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Euro |
1 |
Rs.65.54 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.